The Countries & States That Most Want or Reject A Cashless Society

The approach to this analysis is interesting. They calculated the proportion of negative and positive tweets about going cashless using an AI sentiment analysis tool. I have no idea about the validity of this approach , would be interested in thoughts on this approach .

Positive take away from me in this report was the following quote

When it comes to how quickly we’ll reach a totally cashless future, it’s likely it won’t be anytime soon; as Henk Esselink of the European Central Bank comments, “In 2030, a considerable share of payments will still be in cash, at least in terms of the number of payments.”

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The validity of this kind of study would, in part, depend on what percentage of the tweets were themselves generated by AI and/or by propaganda outfits… and how evenly distributed across the tested sample such fake tweets were. If it were a serious study, they’d have tried to investigate and adjust for another potentially important variable: whether people who frequently use Twitter are more likely to be in favor of “the latest (technological) thing” than those who rarely or never use Twitter.

Also, reading the excerpt below makes me suspect selection bias was involved in this “study”:

Our data reveals that every state but two (Alabama and Delaware) wants to go cashless. It makes sense that the majority of Americans are okay with parting ways with cash: fewer people in the U.S. are using it at the checkout than five years ago, and four in ten (43%) people don’t carry it at all. Even President Biden is exploring the possibility of a digital dollar.

Then there’s this gem:

The COVID-19 pandemic is considered to be a watershed period in America’s embrace of cashless methods. One YouGov poll found that over a third (36%) of people in the U.S. who preferred to use cash to make payments found themselves making cashless payments more during the pandemic.

Sounds like a marketing operation to me.

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Thanks, I appreciate your insights on this !

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@sunnyboy

I think the ‘cashless’ situation might be more fluid than we think. As more people get taken to the cleaners, it might be that opinions of it change.

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